KUALA LUMPUR: The director of a construction company claims to have lost a massive RM26.7 million after falling victim to a cryptocurrency investment scheme offered through the UVKXE app.
Bukit Aman Commercial Crime Investigation Department (JSJK) director Datuk Seri Ramli Mohamed Yoosuf said the 74-year-old man, a ‘Datuk’, had lodged a police report in Brickfields here yesterday.
He said the victim, like 46 others similarly scammed via UVKXE, had seen the investment advertisement after searching on Google.
“The victim then clicked on the attached link and was added to a Whatsapp group ‘12 Gathering Stocks Into Gold’ and tutored about investing by a ‘Professor Stanley Lim’.
“Lured by the promise of lucrative profits offered, the victim downloaded the UVKXE app to start investing,“ he said at a JSJK press conference at Menara KPJ here today.
Ramli said that from Oct 17 to Dec 24 last year, the victim made nine money transfers to nine bank accounts registered in the names of different companies.
Explaining further, he said earlier this year, the victim checked his investment account which had recorded profits of up to USD269,247,546.88 (about RM1.2 billion) in USDT cryptocurrency (a stablecoin launched by Tether in 2014).
However, when he wanted to withdraw the profits from the mobile app used to track his investments, the victim was instructed to make an additional payment of RM5.56 million for tax purposes.
According to Ramli, for the record, five bank accounts belonging to the company used in this case are also being investigated for 38 other fraud cases.
He added that so far, a total of 46 police reports have been received regarding the UVKXE investment fraud scheme with a total loss of RM61,459,449.88.
The investigation is being conducted under Section 420 of the Penal Code (for cheating).
